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Trump extends Jones Act waiver 90 days letting foreign ships carry oil and fertilizer

Trump extends Jones Act waiver 90 days letting foreign ships carry oil and fertilizer

President Trump has extended a critical Jones Act shipping waiver by 90 days, allowing foreign vessels to transport key goods like oil and fertilizer to the United States. The move targets rising energy costs amid international turmoil, aiming to improve fuel supply and reduce financial pressure on households.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Oil Prices Surge After Gunfire Reports Hit Ships in Hormuz Strait

Oil Prices Surge After Gunfire Reports Hit Ships in Hormuz Strait

Oil prices climbed sharply on Wednesday as reports of gunfire attacks hit at least three container ships in the Strait of Hormuz. Brent crude futures pushed above $100 a barrel, reversing earlier losses, with gains driven by heightened shipping and regional risk. Investors are now watching further developments for impact on global supply routes.

Summarised by Beize from a story on Republic on 24 Apr 2026

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Asian shares fall from record highs as oil jumps on Hormuz shipping worries

Asian shares fall from record highs as oil jumps on Hormuz shipping worries

Asian markets pulled back from record highs as oil prices climbed again amid renewed shipping troubles in the Gulf near the Strait of Hormuz. The move follows a strong Wall Street session but signals fragile risk appetite in Asia-Pacific, with MSCI’s broad index slipping 0.5%. Futures also point to a weaker European start.

Summarised by Beize from a story on Republic on 24 Apr 2026
UN readies Hormuz evacuation plan for hundreds of ships as tensions strain Persian Gulf

UN readies Hormuz evacuation plan for hundreds of ships as tensions strain Persian Gulf

The UN’s International Maritime Organization is drafting an evacuation plan for hundreds of vessels stuck in the Persian Gulf amid weeks of conflict sparked by U.S. and Israeli strikes on Iran. Secretary General Arsenio Dominguez said the plan would activate only if tensions ease, with departures prioritized according to crew conditions and safety.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Iran’s fast boat swarms heighten Strait of Hormuz risks for global shipping and energy flows

Iran’s fast boat swarms heighten Strait of Hormuz risks for global shipping and energy flows

Iran is increasingly using fast, small boats near the Strait of Hormuz, adding a new layer of risk for international shipping. The tactic reflects a broader shift toward asymmetrical naval warfare, making escort and passage security harder around a chokepoint that carries a large share of global oil and gas supplies. Authorities now face a more agile, harder-to-counter threat profile.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Iran says Hormuz open to all but tanker traffic collapses and India faces higher shipping costs

Iran says Hormuz open to all but tanker traffic collapses and India faces higher shipping costs

Iran claims the Strait of Hormuz remains open for all, yet tanker traffic has sharply collapsed. Hundreds of vessels are reportedly idling near the Gulf as insurers and shipowners retreat from the conflict zone, driving shipping costs higher. For India, the statement may sound reassuring, but the economic impact is already showing up in logistics and energy supply risks.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Banks still blocked from lending against ships as India’s maritime ambitions stall

Banks still blocked from lending against ships as India’s maritime ambitions stall

India’s updated shipping law has replaced the decades old 1958 framework, but banks remain unable to treat vessels as collateral. The gap is keeping credit from reaching shipowners and slowing financing that could modernize fleets and strengthen ports. The big question: can lending rules catch up with policy so India can truly position itself as a maritime hub?

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Scam Warning as Messages Offer Safe Passage Through Strait of Hormuz for Crypto

Scam Warning as Messages Offer Safe Passage Through Strait of Hormuz for Crypto

A Greek maritime risk firm says fraudulent messages are being sent to some shipping companies, promising safe transit through the Strait of Hormuz. The scam reportedly targets vessels stranded west of the waterway and asks for cryptocurrency in exchange for passage assurances, raising fears of fraud during heightened regional scrutiny.

Summarised by Beize from a story on Republic on 24 Apr 2026
Commerce ministry meets exporters to fix West Asia shipping and packaging shock

Commerce ministry meets exporters to fix West Asia shipping and packaging shock

India’s commerce ministry held talks with exporters to address the fallout from the West Asia crisis, focusing on disrupted shipping routes, strained port operations, and new packaging challenges. The meeting highlighted rising material costs and supply-chain bottlenecks, while exploring practical steps exporters can take to manage delays and protect export continuity.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Indian ports surge into logistics and industry hubs, with cargo capacity set to double by 2030

Indian ports surge into logistics and industry hubs, with cargo capacity set to double by 2030

India’s Shipping Secretary told investors in Singapore that ports are rapidly transforming into logistics and industrial hubs. Cargo handling capacity has already doubled and is projected to reach 3,500 million tonnes per annum by 2030. At the same time, India is ramping up shipbuilding ambitions and accelerating green port and green fuel investments.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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India launches maritime insurance pool to keep trade afloat in conflict zones

India launches maritime insurance pool to keep trade afloat in conflict zones

Indian public sector insurers have created a maritime risk-sharing pool to protect shipping to conflict-affected areas as international insurers reduce or withdraw coverage. The move targets rising uncertainty from renewed hostilities, aiming to keep sea trade moving by sharing losses within the pool and stepping in where global underwriting has become risk-averse.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India adds more Russian marine insurers extending port coverage to years ahead

India adds more Russian marine insurers extending port coverage to years ahead

India has expanded the roster of Russian insurers permitted to provide marine insurance for ships calling at Indian ports. The update increases access to protection and indemnity coverage by allowing additional Russian firms to operate. Several newly included companies have authorisations running through 2026, 2027, 2029 and 2030, extending coverage well into the future.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Singapore warns on Hormuz risks near Malacca Strait as tensions rise with Iran

Singapore warns on Hormuz risks near Malacca Strait as tensions rise with Iran

Tensions are rising as the fallout from a possible Hormuz blockade reverberates toward the Malacca Strait near Singapore. Singapore is stressing transit rights under international law, while Malaysia is calling for dialogue with Iran. With one of the world’s busiest shipping routes at stake, regional positions are quickly becoming a global concern for trade and maritime security.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
116 bn at risk India engineering exports struggle as West Asia ceasefire stays fragile

116 bn at risk India engineering exports struggle as West Asia ceasefire stays fragile

India’s engineering export outlook is under renewed strain as West Asia conflict disruptions persist despite a fragile ceasefire. While the pause offers limited relief, shipping route disruptions and rising input costs—especially petrochemical derivatives and LPG—are hurting production and shrinking export volumes. Industry players warn that volatility could keep pressure on manufacturing far longer than traders expect.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Real oil price under Iran crisis diverges sharply from what markets show

Real oil price under Iran crisis diverges sharply from what markets show

An Iran crisis is exposing a gap between “paper” oil prices and the cost of actually buying barrels. Futures markets price in expectations of eventual calm, but physical markets are reacting to immediate scarcity. Disrupted shipping and higher freight costs are inflating spot prices, creating big global disparities that traders and consumers feel right away.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Engineering exports slump 67% to UAE and 45% to Saudi as West Asia shipping snarls

Engineering exports slump 67% to UAE and 45% to Saudi as West Asia shipping snarls

Indian engineering exports fell sharply in March, with shipments to the UAE down 66.8% and to Saudi Arabia dropping 45%. The downturn is linked to a West Asia crisis that disrupted cargo ship movements. Even with these regional shocks, engineering exports rose overall in March and across the 2025-26 fiscal year, while the US remains the top destination.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Oil producers and shipowners clash over who pays for Hormuz risk

Oil producers and shipowners clash over who pays for Hormuz risk

A tense standoff over transit through the Strait of Hormuz is leaving oil shipments at risk. Shipowners are seeking guarantees they consider necessary to cover extreme dangers, while charterers say the burden is impossible to absorb. With the chokepoint remaining a flashpoint, the disagreement threatens to disrupt pricing, insurance terms, and future routing decisions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Cabinet clears 12980 crore sovereign maritime insurance pool to shield Indian shipping from global shocks

Cabinet clears 12980 crore sovereign maritime insurance pool to shield Indian shipping from global shocks

The Union Cabinet, chaired by Narendra Modi, has approved a ₹12,980 crore Sovereign Maritime Fund to insure Indian-flagged, India-bound and India-originating vessels. The decision is designed to improve maritime trade resilience, lower dependence on foreign insurers, and protect shipping operations as global uncertainties keep rising.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Global growth seen slowing to 3.2% in 2026 as energy shock hits trade

Global growth seen slowing to 3.2% in 2026 as energy shock hits trade

S&P warns global growth could slow to 3.2% in 2026 as West Asia conflicts spark what it calls the largest energy shock on record. The crisis is disrupting shipping lanes and energy distribution, rippling into international trade and raising costs across supply chains.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Indian tanker Desh Garima reaches Mumbai with 97000 tonnes of crude after Strait of Hormuz gamble

Indian tanker Desh Garima reaches Mumbai with 97000 tonnes of crude after Strait of Hormuz gamble

Indian-flagged tanker Desh Garima arrived off Mumbai on April 22 carrying about 97,000 metric tonnes of crude oil. The ship’s voyage included a successful transit through the Strait of Hormuz, a route marked by heightened geopolitical risk. With all 31 Indian crew members safe, the arrival is expected to strengthen India’s energy security and support steady domestic fuel supplies.

Summarised by Beize from a story on Republic on 24 Apr 2026
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